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Egypt's GASC buys 55,000 tonnes of US wheat

CAIRO, September 20, 2014

Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said on Saturday it had bought 55,000 tonnes of U.S. soft red winter wheat in a tender for shipment October 21-31.

The wheat was purchased from Ameropa at the price of $244.22 a tonne, on a cost and freight basis, GASC Vice Chairman Mamdouh Abdel Fattah said.

Traders said the free-on-board price was $222.22 a tonne and the freight was $22 a tonne.

Egypt has bought 1.42 million tonnes of wheat on the international market since July 1, the start of the fiscal year.

The supply ministry said last month its stocks had increased to six months' worth, to last until the end of 2014.

Egypt purchased 5.46 million tonnes of wheat from abroad in the 2013-2014 fiscal year in addition to 3.7 million tonnes of local wheat.-Reuters




Tags: Egypt | US | wheat |

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